News

$815 Million Raised by NYC Tech Startups in Four Days

Over a four day period this week, a whopping $815 million was raised by New York City-based tech startups. Below is an overview of the massive wave of tech funding.

Portion – $5.5 Million
Date: 8/6/18
Round: Seed Round
Industry: Blockchain, E-commerce
Investors: Undisclosed
Company: Founded in 2016, Portion is an online marketplace which utilizes Blockchain technology to allow users to earn Bitcoins for renting-out art and collectibles. According to the company’s website the service is scheduled to launch 10.10.18. To date, Portion has already raised over $5.6 million after two rounds of funding.

Namely– $60 Million
Date: 8/2/18
Round: Series E
Industry: Human Resources, Information Systems
Investors: 4 – True Ventures, Sequoia Capital, Matrix Partners, GGV Capital
Company: Founded in 2012, Namely is an all-in-one HR platform which allows businesses to managed all of their HR related task in one place. Handling everything from administration to compliance, payroll to benefits, Namely provides companies the software and support needed to evolve a company’s culture, while also focusing on providing a great workplace experience for employees. To date, Namely has raised over $217.8 million after eleven rounds of funding.

Rent the Runway – $200 Million
Date: 8/2/18
Round: Debt Financing
Industry: Fashion, E-commerce
Investors: 1 – Temasek Holdings
Company: Founded in 2009, Rent the Runway is an e-commerce website which allows women to rent designer apparel and accessories they otherwise may not be able to afford. Currently boasting over 8 million users, Rent the Runway allows women access to clothing and fashion that will let them look and feel their best. To date, Rent the Runway has raised over $416.2 million after eight rounds of funding.

Peloton – $550 Million
Date: 8/2/18
Round: Series F
Industry: Fitness, Cycling, Hardware, Content, Video Streaming
Investors: 10 – Winslow Capital, Wellington Management, True Ventures, Tiger Global Management, TCV, NBCUniversal, Fidelity Management and Research Company, Felix Capital
Company: Founded in 2012, Peloton merges tech, design, and fitness to provide a world-class at home cycling workout. By providing the equipment, fitness routines, and live and on-line instructor led programs, Peloton has created a world-class indoor cycling studio experience available to user’s on their own time, and in their own homes. To date, Peloton has raised over $994.7 million after eight rounds of funding.